Unbalanced Books: How to Improve Toronto’s Fiscal Accountability
AbstractAs Toronto gears up for a municipal election this fall, the city's poor record on fiscal accountability promises to be a central issue. As the sixth largest government in Canada, with a budget of over $11 billion annually, Toronto city hall should have its finances under better control. A 10-year comparison of planned spending changes announced in budgets with actual results reported after year-end reveals large deviations between planned and actual spending that are routine. To increase transparency and accountability, Toronto should consolidate its now separate capital and operating budgets, move to a uniform accounting basis for its budgets and year-end results, and provide multi-year budgets. City government should adhere more closely to the budgets Council votes every year.
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Bibliographic InfoPaper provided by C.D. Howe Institute in its series e-briefs with number 103.
Length: 6 pages
Date of creation: Aug 2010
Date of revision:
Publication status: Published on the C.D. Howe Institute website, August 2010
Governance and Public Institutions; Toronto; fiscal accountability;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-09-11 (All new papers)
- NEP-MAC-2010-09-11 (Macroeconomics)
- NEP-PBE-2010-09-11 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Colin Busby & William Robson, 2013. "Canada's 2012 Fiscal Accountability Rankings," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 373, February.
- Benjamin Dachis & William B.P. Robson, 2011. "Holding Canada's Cities to Account: an Assessment of Municipal Fiscal Management," C.D. Howe Institute Backgrounder, C.D. Howe Institute, issue 145, November.
- Andrew Green & Michael Trebilcock, 2010. "The Eco-Fee Imbroglio: Lessons from Ontario’s Troubled Experiment in Charging for Waste Management," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 316, December.
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